DNB Asset Management AS Boosts Holdings in WestRock (NYSE:WRK)

DNB Asset Management AS lifted its stake in shares of WestRock (NYSE:WRK) by 33.7% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 56,154 shares of the basic materials company’s stock after purchasing an additional 14,153 shares during the period. DNB Asset Management AS’s holdings in WestRock were worth $2,822,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. International Assets Investment Management LLC increased its stake in WestRock by 268.7% during the 4th quarter. International Assets Investment Management LLC now owns 789 shares of the basic materials company’s stock worth $33,000 after buying an additional 575 shares in the last quarter. OLD Point Trust & Financial Services N A acquired a new stake in shares of WestRock in the fourth quarter worth approximately $35,000. Parkside Financial Bank & Trust increased its position in shares of WestRock by 59.0% during the fourth quarter. Parkside Financial Bank & Trust now owns 862 shares of the basic materials company’s stock worth $36,000 after purchasing an additional 320 shares in the last quarter. Headlands Technologies LLC acquired a new position in WestRock in the 1st quarter valued at $44,000. Finally, Newbridge Financial Services Group Inc. lifted its holdings in WestRock by 82.0% in the 1st quarter. Newbridge Financial Services Group Inc. now owns 910 shares of the basic materials company’s stock valued at $45,000 after purchasing an additional 410 shares in the last quarter. Hedge funds and other institutional investors own 83.38% of the company’s stock.

Wall Street Analysts Forecast Growth

WRK has been the subject of a number of research reports. Truist Financial upped their target price on shares of WestRock from $51.00 to $57.00 and gave the stock a “hold” rating in a report on Thursday, May 30th. StockNews.com initiated coverage on shares of WestRock in a report on Thursday, August 1st. They issued a “hold” rating for the company. Wells Fargo & Company boosted their target price on WestRock from $46.00 to $51.00 and gave the stock an “equal weight” rating in a report on Friday, May 3rd. Finally, Argus increased their price target on WestRock from $50.00 to $57.00 and gave the company a “buy” rating in a report on Monday, May 6th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $51.75.

WestRock Trading Up 3.5 %

Shares of WRK stock traded up $1.76 during trading on Tuesday, hitting $51.51. 11,862,000 shares of the stock traded hands, compared to its average volume of 2,623,995. WestRock has a 52-week low of $27.86 and a 52-week high of $54.83. The firm has a market capitalization of $13.24 billion, a P/E ratio of 43.29, a price-to-earnings-growth ratio of 2.13 and a beta of 1.05. The firm’s fifty day moving average price is $51.36 and its 200-day moving average price is $48.33. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.34 and a quick ratio of 0.85.

WestRock Company Profile

WestRock Company, together with its subsidiaries, provides fiber-based paper and packaging solutions in North America, South America, Europe, Asia, and Australia. It operates through four segments: Corrugated Packaging, Consumer Packaging, Global Paper, and Distribution. The Corrugated Packaging segment produces containerboards, corrugated sheets, corrugated packaging, and preprinted linerboards to consumer and industrial products manufacturers, and corrugated box manufacturers.